Perigon Wealth Management LLC Invests $878,000 in Waystar Holding Corp. $WAY

Key Points

• Perigon Wealth Management acquired 42,770 Waystar shares worth approximately $878,000 during the second quarter, joining several other institutional investors that increased their positions.
• Waystar CEO Matthew J. Hawkins sold 60,038 shares for about $1.5 million under a pre-arranged Rule 10b5-1 plan; insiders own 3.5% of the company.
• Waystar reported quarterly EPS of $0.43, beating estimates by $0.03, while revenue rose 18.1% year over year to $319.67 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $35, versus a recent share price of $24.32.

Perigon Wealth Management LLC bought a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 42,770 shares of the company's stock, valued at approximately $878,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC boosted its position in Waystar by 6,475.0% during the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company's stock valued at $25,000 after purchasing an additional 1,036 shares during the last quarter. Essential Partners LLC increased its position in shares of Waystar by 1,432.7% during the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company's stock worth $37,000 after purchasing an additional 1,447 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Waystar by 6,005.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company's stock worth $38,000 after purchasing an additional 1,141 shares during the last quarter. Danske Bank A S bought a new stake in shares of Waystar during the 4th quarter worth approximately $52,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock worth $57,000 after purchasing an additional 1,352 shares in the last quarter.

Insider Buying and Selling at Waystar

In other news, CEO Matthew J. Hawkins sold 60,038 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.01, for a total value of $1,501,550.38. Following the transaction, the chief executive officer directly owned 1,835,081 shares of the company's stock, valued at $45,895,375.81. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WAY has been the subject of several analyst reports. Wall Street Zen cut shares of Waystar from a "buy" rating to a "hold" rating in a research note on Sunday, May 24th. Citigroup reaffirmed a "buy" rating on shares of Waystar in a research report on Monday, July 20th. Barclays increased their price target on shares of Waystar from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Waystar from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $33.00 target price on shares of Waystar in a report on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Waystar Stock Down 1.5%

WAY stock opened at $24.32 on Wednesday. Waystar Holding Corp. has a 1-year low of $17.26 and a 1-year high of $41.47. The business's 50 day simple moving average is $21.83 and its 200 day simple moving average is $22.68. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $4.66 billion, a PE ratio of 34.74, a PEG ratio of 0.96 and a beta of 0.06.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The business had revenue of $319.67 million during the quarter, compared to the consensus estimate of $316.21 million. During the same quarter last year, the firm posted $0.36 EPS. The company's quarterly revenue was up 18.1% on a year-over-year basis. As a group, research analysts anticipate that Waystar Holding Corp. will post 1.47 EPS for the current year.

About Waystar

Waystar NASDAQ: WAY is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company's unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar's offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.

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